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EFCC arraigns man over $1.4m fraud

Kolawole Erinle. Photo: Wahab Akinlade

The Economics and Financial Crimes Commission (EFCC) has arraigned a suspected fraudster, Kolawole Adebayo Erinle before a Special Offences Court in Ikeja, Lagos on a three-count charge bordering on advanced free fraud amounting to over $1.4m.

Arraigning the defendant, Counsel to EFCC, Tayo Banjo informed the court of an amended charge urging court to take his plea.

The defendant thereafter pleaded not guilty to the three count charges levelled against him.

Subsequently, his counsel, Yinka Farounbi told the court that the defence has a bail application.

However, the judge, Justice Oluwatoyin Taiwo asked the counsel to return on March 15 for the bail application.

The court subsequently ordered that the defendant be remanded in EFCC custody pending a hearing of the bail application.

In the charge information, the anti-graft agency alleged that Kolawole Adedayo Erinle, Rinde-Rendex Nigeria Limited and Edward Dada (still at large) on or around May 3, 2019 at Lagos retained the control of the sum of $1,410,000 (one million, four hundred and ten thousand United State Dollar) in an Access Bank account which were proceeds of various internet and cybercrimes.

Reporting by Wahab Akinlade; editing by Muzha Kucha